In the past, navigating a corporate career meant taking calculated steps to climb the corporate ladder. For the most part, this traditional view of career advancement is outdated. Following the downsizing that occurred in the 1980s and early 1990s, workplace loyalty began declining. Today, people have different values and priorities.
Dry promotions, also known as quiet promotions, refer to employees receiving a new job title or more responsibility without a pay raise. As budgets tighten, these no-raise promotions have become more common. In a recent poll by Pearl Meyer, 13% of employers said they are using new job titles to reward employees, up from 8% in 2018.